Kittilä mine is the largest gold mine in Europe.
As a result of the permit limitation and the electricity price volatility in the fourth quarter of 2022, the underground mine production was reduced to approximately 183,000 tonnes and the underground mine activities were largely focused on lateral development. The Company expects a final decision from the SAC during the second half of 2023. Until then, the Company will rely on the current mining permit while maintaining operational flexibility to reach the 2.0 Mtpa volume in case of a positive decision by the SAC. If the SAC does not reinstate Agnico Finland’s right to operate at, or close to, 2.0 Mtpa, the Company intends to submit an updated permit application for 2.0 Mtpa output level or higher. |